The global cryptocurrency market reached $2 trillion for the first time in over three months on Friday.  Participants in the industry claimed that the increase in cryptocurrency reflects a growing acceptance of crypto assets around the world, as more and more people are embracing and adopting the new form of exchange, particularly in India.

Bitcoin has once again risen and surpassed the $46,000 level after it’s decline a few months ago which saw a decrease in crypto trade. According to CoinMarketCap, the most popular cryptocurrency is trading in the green, with a market worth of more than $848 billion.

“The world’s oldest cryptocurrency, Bitcoin has witnessed a fantastic rally recently and the latest Ethereum upgrade, also known as London Hard Fork, has boosted the Ether price,” said Shivam Thakral, CEO, BuyUcoin.

Many brands throughout the world are now accepting cryptocurrencies as a form of payment, indicating that crypto assets are being widely consumed and on their way to becoming mainstream.
“The current bull run is expected to continue, and we are highly optimistic that Bitcoin will hit the $100,000 mark by the end of this year,” Thakral said in a statement.

In India, cryptocurrency exchange WazirX has seen a massive 2,648 percent increase in user signups from tier 2 and 3 cities, with women from smaller villages participating at a higher rate than their metropolitan counterparts.

The cryptocurrency exchange has grown tremendously and now has over 7.3 million users and has a trade volume of over $21.8 billion in 2021.
“Crypto has immense potential to remove the financial barriers for rural India, and provide cheaper access to capital, more online jobs,” Nischal Shetty, CEO, WazirX had said.
More than 1.5 million Indians own crypto assets worth more than Rs 1,500 crore.

Cryptocurrency, according to analysts, may become the most important asset class of the twenty-first century indicated by it’s wide adoption and acceptance by traders as a modern day currency.